Here’s what South Africans get wrong about spending, saving and survival
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For years, a familiar narrative has shaped how we understand South Africans and their finances: they are over-indebted, under-saving and prone to conspicuous consumption.
Cowhan Govender, group head of personal banking at Standard Bank Personal and Private Banking, said this narrative is reinforced by statistics, the low household savings rate, rising unsecured lending and high levels of personal debt. On the surface, the conclusion seems obvious. But it is also incomplete.
“To truly
Cowhan Govender, group head of personal banking at Standard Bank Personal and Private Banking, said this narrative is reinforced by statistics, the low household savings rate, rising unsecured lending and high levels of personal debt. On the surface, the conclusion seems obvious. But it is also incomplete.
“To truly
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